Marine Link
Sunday, December 4, 2016

Kvaerner To Sell Shipyards, Maritime Unit

February 14, 2000

Kvaerner Plc has agreed to sell its maritime and technology unit Kvaerner Maritime for $15.9 million in cash. Separately, the group will also sell its Fjellstrand shipyards in Norway for $12.2 million to a consortium consisting of the management of Kvaerner Fjellstrand and other local investors. Kvaerner said it would sell Oslo-based Kvaerner Maritime to a consortium consisting of the management and staff of the company, and Reiten & Co. ASA. Reiten is a privately held financial house, based in Oslo, which invests in small technology businesses. The group said the sale of Kvaerner Maritime would not affect its accounts, though the sale of Kvaerner Fjellstrand would result in a small accounting loss. Kvaerner said it will try to find a buyer for the one remaining shipyard, owned by Kvaerner Fjellstrand in Singapore. The group is pulling out of the shipbuilding sector as part of a comprehensive restructuring plan.


 
Maritime Reporter Magazine Cover Nov 2016 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News